A competitive market is one in which a large numbers of producers compete with each other to satisfy the wants and needs of a large number of consumers. In a competitive market no single producer, or group of producers, and no single consumer, or group of consumers, can dictate how the market operates. competitive market is one in which a large numbers of producers compete with each other to satisfy the wants and needs of a large number of consumers. In a competitive market no single producer, or group of producers, and no single consumer, or group of consumers, can dictate how the market operates.
Only when the annuitant begins to withdraw money from the annuity, he has to pay tax on his gains. Annuitiy holders must be advised of the risks of deferred income taxes when they agree to accept an annuity contract. In the event of the death of the annuitant, the beneficiary is subject to tax.
Payments can be deferred, allowing for a larger charitable deduction and greater annuity benefits. Gift Annuities provide substantial tax advantages. You receive a tax deduction the year your gift is made, and a portion of your annuity payments are nontaxable. However, because Annuities cannot be legally changed, great care should be taken to ensure that you have other resources to meet any future emergency needs.